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injured. the violence marked a major escalation in the dispute over mohamed mursi's effort to hold a referendum on a new constitution later this month shortly after he asserted wide-ranging powers. fighting continues today with supporters and opponents clashing in the streets of cairo. on wednesday, opposition leader mohamad held there by blamed the morsi government for the violence p.m. we hold president morsi and his government but irresponsible for the violence that is happening in egypt today. what is happening at the presidential palace at the moment, without the protection of the country, is an announcement from the country and the president that they do not hold their responsibility to protect the country. >> in a bid to calm the unrest, the vice president mahmoud mekky has considered adding a n amendment to the constitution. the death toll from the massive typhoon in the philippines has now topped 310 people with hundreds more missing. typhoon bopha is the most southerly typhoon to ever hit the pacific. 200,000 people have also been displaced after winds and flooding destro
problems. >> protesters clashed with mohamed morsi's supporters, amid a growing crisis over the draft constitution. but a referendum on the draft constitution will go ahead as planned, despite the unrest. but that might not be enough for protesters. they are calling on president mohamed morsi to step down and for the document to be dumped completely. >> there were scuffles between anti-government demonstrators and pro-morsi activists trying to break up their protest. u.s. secretary of state hillary clinton has called on the sides to settle their differences through dialogue. she warned that the government must deliver on the promises made during the revolution. >> ultimately, it is up to the egyptian people to chart their way forward. we want to see a process that is inclusive and a dialogue that is truly open to a free exchange of ideas that will further the democratic process in egypt. >> but six months after mohamed morsi took power, many egyptians are losing patience with their islamist leader. >> he should gather his papers and leave the palace. he is not qualified for his positi
haven't seen any political progress here. >> right. and mohamed, let me ask you this. let's talk act the first piece of damage we may see, which we saw during the debt ceiling debate, the idea that the u.s. gets its credit rating hurt again. there's been some talk about it from fitch. the net result of lowering the u.s.' credit rating the last time around and-in the debt debacle, it's kind of sad because the first experience most people have with that is it wasn't as bad as we were warned it was going to be. is there a real danger to the u.s.' debt rating and what could that mean? >> at some point, there was a danger. the reason why we haven't felt it is because we've been doing better than rest of the world. this concept that my colleague, bill gross says, wear the cle cleanest dirty shirt. so we're not clean but we're cleaner than europe is right now. >> right. >> so we haven't felt it. my main worry is the following, that if the republicans and democrats can't get together to solve the fiscal cliff you will need an external force, a major market sell-off, you will need a major eco
or at least for the start of the year? we have pimco's mohamed el-erian later on in the program. stick around. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. so, the 5.3-liter v8 silverado can tow up to 9,600 pounds? 315 horsepower. what's that in reindeer-power? [ laughs ] [ pencil scratches ] [ male announcer ] chevy's giving more. now through january 2nd, no monthly payments until spring for qualified buyers. get the silverado for 0% apr financing for 60 months plus $1,000 holiday bonus cash. plus trade up for an additional $1,000 trade-in allowance. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day after day... block the acid with prilosec otc and don't get heartburn in the
on a larger scale for you. does that help you any, pat? worst politician 2012 egypt's mohammed morsy. heralded as a states man after his role in mediating the gaza cease fire and plunged his country into chaos by grounding him executive of absolute power which caused an outcry and tried to rush through a constitutional referendum. worst politician. okay. most defining political moment, pat? >> governor chris christie embraces barack obama and hurricane sandy. bye-bye mitt. >> anyway, bye-bye mitt happened earlier than that. the 47% tape that was leaked that had him stating that he didn't have to carry about 47% of the public. also the decision to uphold most of obamacare was another defining political moment. >> when i share eleanor's view, i think that video of obama on that 47% of the american public whom he said were happily dependent on the american government -- >> romney. >> who did i say? >> obama. >> obama. definitely not obama. >> go ahead with it. >> but that -- i don't think romney did this with anticipation that it might suddenly come out. but when it came out, it was the worst pol
reduction package. >> mohammed aladarin is the ceo of pimco and mark zandy is a chief moist at moody's analytics and joining me in studio is christine romans. the gdp for the u.s. grew at 3.1% over the summer. that's more than double the rate of the previous quarter. you can see the chart, it's been choppy, but it looks like we're going in the right direction. america's economy is gaining pace, doing better than expected. and we've been saying the 2013 could be the year of a real economic renaissance in the united states or at least the beginning of one. talk to me about the consequences to our prosperity if washington doesn't reach a deal. >> the consequences are not good. so what the numbers are telling you is that the private sector is healing. and if the private sector were left to its own devices, it would heal faster. unfortunately, washington is getting in the way. and what we find out this week, ali, is that the problem is not just a lack of trust between democrats and republicans, we found out that the republicans themselves can't unite. which means that the cooperative solu
a referendum. this comes a day after they said it would boycott a referendum. >> president mohamed morsi granted himself sweeping powers. that prompted some judges to call for an indefinite strike. >> germany is reported to be considering the export of tanks and armored vehicles to saudi arabia, a country which is already -- has already used its weapons to put down a popular uprising in the country neighboring. >> they say that hundreds of boxer armoured patrol vehicles -- should the deal goes through, it would make the government an accomplice to islamist extremists, some said. >> saudi arabia is reportedly looking to purchase several hundred of these boxer armoured patrol vehicles. "der spiegel" magazine says this was discussed last week at a meeting. a government spokesman declined to comment. >> confidentiality protect interest of potential buyers, as well as our relations with such countries. many requests are turned down. even if they are proved, they often do not ultimately lead to a deal. >> the blonde is where -- the bundeswehr currently uses the boxer as a transporter. it could
it is obvious that mohammed morsi fully intends to create hard line islamist regime there as explained in the last 80 years of the group's history. somehow "the new york times" manages to find that moderate, unquote. jon: you're right, jim it is kirkpatrick, that's why you're so good keeping an eye on the media, including me. let's see what president obama had to say when hosni mubarak was in power listen to this. >> it is not the role of any other country to determine egypt's leaders, only the egyptian people can do that. what is clear, and what i indicated tonight to president hosni mubarak is my belief that an orderly transition must be meaningful, it must be peaceful, and it must begin now. jon: so, the president got his wish. hosni mubarak ended up leaving office and look at what we have. who is this guy, this muslim brotherhood member, alan? >> it wasn't up to president obama to change government in egypt. it didn't happen because of president obama it happened because of an arab spring and it happened organically because the people in egypt, which is the way it should happen, we
unrest in egypt is showing no signs of dying down. egyptian president mohamed morsi has given the military order to maintain security and protect the state institutions in the run-up to the referendum on a new constitution. the army has also been given the power of arrest. >> this comes as the country braces for more mass protests by all of it -- by opposition groups. president morsi lifted the decree expanding his presidential powers, but that has done little to calm the political unrest. and these soldiers stationed outside the political palace have new powers. >> the egyptian military now has the right to arrest civilians. another setback for the protesters camped out here day and night. president morsi has another decree -- has been told the decree giving him sweeping powers, but demonstrators -- president morsi has an old -- has annulled the decree. >> nothing has changed. he is playing games with us and trying to buy time, but we are sticking to our opposition and will reject the accord -- the referendum. >> but now that police powers have been transferred to the army, a
for more. melinda, how concerned are german leaders are about where mohamed morsi and the is bomuslm brotherhood are taking the country? >> his ministry is suspending talks on for the development aid for now. there suspending discussions and negotiations on debt relief which have would have amounted to 240 million euro. another government spokesperson said president morsi is the first democratically elected president and we have to deal with him. we're still planning on him visiting a berlin at the end of january. they said basically, what they would be looking for is to be assured that egypt will respect the rule of law, freedom of speech, human rights. in this case, they would still be maintained. relations with the government. >> melinda, thank you. we will be right out with more. >> demonstrators throwing stones at the acting president of tunisia. that incident cut short a ceremony marking the second anniversary of the revolution. >> holdings speeches to commemorate. >> he set himself on fire in an act of protest and it signified weeks of protest forcing out the country's dictato
constitution. the bill backed by president mohamed morsi and the -- the referendum passed by a narrow margin, while opponents say the draft constitution does not protect the rights of women and minorities. >> i would have respected the results of the referendum if i felt there were no violations in the process and no fraud. >> no one is looking for what is the best for egypt. everyone is looking for what is best for themselves. we need people seeking the best for the egyptian people, who will work for a better egypt. >> this is the role of democracy, and we expect it to read something like 60 percent. if you see 60 percent of the population, you have to follow that. >> the head of nato says the syrian government has been increasingly desperate and is close to collapse. these pictures filmed last week show how badly parts of damascus has been damaged in the ongoing fighting. this is the largest which the largely deserted province of dalian. a food and fuel for shortage has become severe. the lack of fuel has forced the closure of several factories in damascus. gasoline is selling for less tha
mohammed morsi granted himself sweeping powers to push through the draft constitution. a constitution that the critics claim cobol officer hard line islamic policy. gag palkot following it all from cairo and streaming now. greg? >> hey, shep. things are relatively quiet here in cairo right now. but they are going to get noisy again. supporters and opponentses of egyptian president mohammed morsi get ready for a referendum on that draft constitution. actually it's going to happen over the next two saturdays due to a shortage of judges who have to act as election monitors. one main judicial group is calling the document an insults. the opposition is very much involved in this now. they have branded the constitution as promise and noninclusive. they want their followers to vote no. but they will be up against it. morsi's muslim brotherhood party has a good ground game, an excellent grassroots network and calling for rallies outside of mosques on friday. and they also play hard ball. a national unity meeting planned for wednesday was canceled. we were told 'cause morsi didn't want to show
harrigan. since mohamed morsi, the president there assumed near absolute powers through a constitutional move. he and the muslim brotherhood have been doing things that have a lot of people concerned in terms of ramming through a very controversial new constitution that the people have been very unhappy about. what's going on there. come back home now for a moment and take a look at the latest numbers we have got on the u.s. economy. the weekly unemployment numbers came in as they do every thursday. the labor department reported 370,000 americans filed for first-time unemployment claims. either way, either way, folks, your taxes will go up despite the haggling going on on capitol hill. you will be paying more to the u.s. government. stuart varney joins me now. so, stuart, that's the bottom line. this is what people i think across the country are starting to realize no matter what they negotiate, 2013 will be different for most of us. >> this is the untold tax story. everybody has been concentrating on tax the rich, yes or no. but the payroll tax holiday goes away january 1. neither polit
professors and towns leaders and spreading it throughout. since mohammed can come to mohammed, the mountain goes to mohammed, right? and also the whole notion that in china and india where there's a tremendous amount of university research parks being bit and created, terry you talked about the labs that are built and ready to go. it's worse then that, isn't it? they're offering super star professors double the salary, everything they want plus if you're in the medical field any type of clinical testing want to do to make sure your elements get going because they have different laws then we do. my question is if there's a technology drain, it's also in terms of u.s. laws, we only prohibit certain type of technology drains. that has to do with national security and technology. but when you talk about in steve's case the talent of the innovative things that basically get sucked out along with that, that's something going sort of -- nobody talks about that. >> it's true. what you're saying is true. goes back to what you were saying before. other countries are stepping up efforts to be a magnet
by some demonstration, protesting the mohammed video, getting out of control. a lot of people in congress have said the mohammed video story was a cover-up. i actually hope for the good of the country that is true because at least it would demonstrate that the president understood reality. he was trying to sweep it aside. i'm worried that the ideology that controls the white house and presumably the state department which we're going to see four more years of, leaves us dangerously unprepared to meet the threats that we see from al qaeda, from other terrorist groups in the middle east and around the world. gregg: what do you think john kerry brings to the table? >> well, he certainly has a lot of experience, although a lot of it has been badly, bad judgment in a range of issues. he has been soft on the iranian nuclear weapons program. he has been soft on the north korean nuclear weapons program. he has been soft on russian desires to recreate russian hogeminy in the former soviet union. he has been soft on china's territorial demand in the south china sea. i could go on. i think he will f
mohamed morsi returned to cairo palace after fleeing last night. tens of thousands of protesting the constitution, the trap is set for a vote on december 15. riot police have been deployed to separate supporters and opponents of president morsi. anti-morsi protesters that he is stripped judiciary of power and rushing through his constitution backed by largely islamist handle. egyptian president has said the referendum vote on the constitution draft will go on as planned despite protests. lori: it is a shocking. unreal. melissa: paying the price for hurricane sandy, fema asking for more money to foot the bill. how does the federal government plan to pay for this? lori: the social networking site moving up in the world. how investors could benefit the head. want to try to crack it? yeah, that's the way to do it! now we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attentio which is why we are proud to partner with health care professionals who understand the difference that quality time with our members can make... that
ceo of pimco mr. mohammed el-erian. welcome back. >> thank you, bill. >> and i've given you your first question. i gave it to rick earlier. we've seen this rise in yields even as the fed met to try to bring rates down some more. even as the fiscal cliff negotiations continue on. you'd think there'd be a rush to these safe havens. that's not happening. have we seen the low for the treasury yields for the foreseeable future? >> it depends which bend of the curve you're talking about. if you're talking about the 10 year point, we would agree with rick. looks like a range between 1.6% and 2%. and the language of keeping interest rates at zero. the long end is going to be volatile and more dangerous. it depends where on the curve you. >> so -- i'm sorry? >> it was interesting. this was brought up by one of our portfolio managers this morning. the fed's statement was hawkish last wednesday. we don't agree. what the fed tried to do is provide greater clarity to the markets. >> right. >> but that had been misinterpreted as it being more hawkish. we don't think that is the case. >> so all of th
fogood o ill and embodied what was important about the year. the magazine's list included mohamed morsi, tim cook and malala yousafzai, the pakistani teach ager shot for advocating girl's education. rick stengel joins me now. he's the managing editor of time. how do you go about selecting the person of the year. and in the end you decide. >> and in the end i decide. >> rose: don't you love privilege? >> (laughs) it weighs on your shoulders alwa time, as you know. probably beginning in the middle of the year we start thinking about it, a month or so later i start asking people like you, members of the "time" 100, our correspondents, editors, writers start sending in suggestions and have meetings and then we start talking about ideas, tloung out names, sometimes it's not a person but a group of people, like last year, the protest. the end we whittle it down to a short list and then we choose. >> what is it you that you measure them by? >> it's a historical thing, charlie. you measure them in part by past person of the year winners. i always like to feel the person who wins person of the y
after fatal clashes between islamist supporters and opponents of president mohamed morsi over a new draft constitution for the country. state-run media say five people were killed and more than 600 injured. the two sides threw fire bombs and rocks at each other near the presidential palace on wednesday. secular forces and young people are protesting morsi's plan to hold a referendum on the draft on december 15th, saying it has not been properly debated. >> translator: we won't let them hold a referendum. we'll protest at the presidential palace, tahrir square, everywhere. and we won't let it happen. >> the president's supporters have been holding a sit-in around the palace, where troops and tanks have been deployed. >> translator: we are determined to protect the president we elected democratically. >> president morsi says he has not changed his plans for the referendum, but many fear the violence will spread. >>> at least 327 people are confirmed dead after typhoon bopha struck the philippines earlier this week. 250,000 people are living in shelters. many have yet to receive any as
with us. >> we'll be right back. >> egyptian president mohamed morsi claiming new powers following his participation in israeli-palestinian cease-fire negotiations, temporarily widening his control and shielding his decisions from judicial review. the supreme judicial council calling morsi's decree "an unprecedented attack on its independence." >> [ shouting in arabic ] >> thousands protesting what they call an undemocratic power grab. egypt's stock market plunging since morsi issued the decree. morsi meeting with senior judges saying the measures are temporary, not meant to concentrate powers. sandy, the worst storm to ever hit the jersey shore, also leaving a huge financial dent. new jersey governor chris christie announcing the preliminary cost of the damage is a record-high $29.4 billion, a number expected to rise. new york governor andrew cuomo also planning to ask the federal government for at least $30 billion to help his state in its recovery. meanwhile, new york is getting $27 million in federal funds to hire more than 5,000 sandy cleanup workers. holiday shopping season is of
president mohamed morsy's meeting with some members of the opposition earlier today. protesters have been demanding he give up his new powers and they at times carried out deadly violent demonstrations. they also want the government to postpone a referendum vote on a controversial new constitution. but a panel of officials decided to go forth with the planned vote. >> today thousands in gaza rallied to mark the 25th anniversary of the founding of hamas. palestinians celebrated the date with fanfare, speeches and a giant prop resembling the kind of rockets fired into israel. the long-exiled political leader of hamas addressed a crowd of tens of thousands of supporters in gaza. anti-apartheid icon nelson mandela has been admitted to a hospital in south africa. but president jacob zuma says mandela is only undergoing tests -- and that there is no cause for alarm. in a statement, zuma said the former south african president is doing well and being cared for. zuma says the 94-year-old mandela does receive medical treatment which happens quote "from time to time" that officials say is consisten
and holland and company. and tomorrow tonight, we'll have more analysis on the fed decision. mohamed el-erian joins us. he's the c.e.o. of pimco. >> tom: still head, british bank hsbc agrees to pay a record fine for laundering mexico drug money. >> susie: it's a major hit to organized labor-- michigan approved legislation today that would greatly limit labor rights. protestors swarmed the state capital as lawmakers passed a bill prohibiting unions from requiring employees to join and pay dues. the move would make michigan, one of the most union-friendly states, the 24th "right to work" state, where union dues are voluntary. >> tom: more bumpy skies for boeing's 787 dreamliner. boeing's much anticipated and high-profile plane was grounded last week, according to "the new york times." the federal aviation administration also has ordered that fuel line connectors on all 787s be inspected. analysts call these problems minor hiccups. but as sylvia hall reports, the dreamliner's profitability to boeing right now is raising bigger concerns. >> reporter: boeing's 787 dreamliner promises to use
of the approximated, mohammed morsi continued. overnight, he increased tough economic reforms as part of a proposed $4.8 billion imf loan agreement. eyeman is in eye row with the latest. >> reporter: good morning to you. it has added more to the political turmoil here today. today there are several messages being sent to morsi. the referendum is scheduled for saturday. it's a controversial constitution that secular liberal forces here have announced it doesn't protect human rights or the rights of minorities and women. there are supporters of the president and they are, too, organizing their rallies for today and friday. and against all of this, the president has given the egyptian military law enforcement powers. that means they are essentially now allowed to act as the country's police force in the run up to the referendum. they're allowed to arrest civilians and that has caused a great deal of alarm for human rights advocates and organization ones. so it's a great time of uncertainty here in egypt. right now, the opposition is calling for roadway injection of the referendum. they're not calling for
's future. opponents of egyptian president mohammed morsi marched toward the presidential palace in cairo today after he rejected their demands. thousands of his islamists supporters vowed vengeance for two men killed in clashes this week. u.s. and russia are trying to get on the same page regarding syria. top diplomats today announce another effort stopping the bloodshed and getting rid of bashar assad. national security correspondent jennifer griffin tonight from the pentagon on what happens if diplomacy fai fails. >> rebel forces close in on the airport, the planners expect fighting in syria to intensify. u.s. officials are pessimistic they can resol t syrian conflict diplomatically, but seem certain that assad is losing his grip on power. >> every syrian must be included this process for a new and better future. future cannot include assad. >> military in meantime is actively planning should vit to intervene to assure assad's chemical weapons. hundreds of u.s. and nato troops will soon be heading to the turkish border with syria to operate patriot missile defense batteries. this summe
for legislative business. that is live on c-span. we will look at egypt president mohamed morsi, and the referendum on a drafted convert -- constitution and the country. on c-span, a discussion on the impact of the government acts they passed a decade ago to improve services and productivity. >> this morning, jacqueline simon talks about how the fiscal cliff could impact federal workers. federal workers.
to the streets to protest egyptian president mohamed mursi's effort to hold a referendum vote later this month after asserting wide- ranging powers, protecting him from judicial oversight. egyptian forces fired tear gas at protesters, some of whom broke through lines to approach the president. the rally coincided with a one- day strike from newspapers. the united nations is warning food shortages are growing in syria as a result of rising prices and mounting attacks on un vehicles delivering supplies. the u.n. world food program is currently feeding one, 5 million people in syria, the vast majority displaced from their homes. the news comes after the u. n announcing they are cutting back and removing staffers from damascus. among the latest victims of violence in syria, nine students and a teacher were killed when their school was bombed in damascus. government forces have blamed rebels for the attack. nato has approved a request by turkey for the deployment of patriot missiles to its border with syria. turkey sought the missiles to defend itself from cross border violence. speaking in belgium
up for egyptian predent mohammed morsi. reports say he is ready to postpone the scheduled vote on the new constitution which would cement his sweeping powers. earlier today protesters broke through the barriers around the presidential palace. police fired tear gas at a crowd of almost 1000 people out seed cairo tv studios. we have a fox news contributor, specializing in middleeast counterterrorism affairs. lisa, it looks like things are getting more out of control all the time. people keep saying ts is going to calm down. what is your, what is your take on it? >> well, as long as moi's factions, the muslim brotherhood will remain steadfast in a power grab d maintaining their agenda, the people, opposition saying this is not what we fought for the company will remain in perpetual revolutionary mode. there is no way arou it. morsi will have to make concessions and even when he does it might be too hail too late as far as the people are concerned here. melissa: everybody keeps talking about as well the .6 billion in foreign aid the .s. continues to send to egypt that we're on the
mohamed morsi put in place his new voting rules as the protests turn violent ahead of the saturday's vote on the controversial constitutional referendum. the new rules restrict voters from casting their ballots outside their electoral districts which had been allowed in the past. this announcement comes just hours after masked gunmen attacked these opposition protesters, happening overnight in cairo's tahrir square. nine protesters were injured, four of them critically. their attackers fired bird shot pellets, threw molotov cocktails. what will the new voter rules mean for this week's referendum? >> reporter: i don't know if you hear me. i'm having trouble hearing you. but about an hour ago -- >> we're having a tough time hearing reza. we're going to work on that connection and bring him back up. because it is important to talk about what is happening now in anticipation of the weekend. let me get you caught up, though, on our lead story out of michigan. take a look. >> vo >> veto! >> the republican-led legislature passed two right to work bills just within this past hour. one is for publ
been marred of late thanks to mohamed morsi, the president of egypt earning him the moniker on atwitter of morsilini or mubarak with a beard, and now as we look around, we are not sure where this revolution is going and nor are we aware were the of the revolutions are going around the region. syria is teetering, georgia is burning, and the future is yet to be written. the question now is in all these countries will there be elections, will the islamists win? will it be one man, one vote or one-man, one-vote, one time. so with that we are going to debate the motion of democracy is the triumph in the middle east, it's up about box and is unavoidable and essential. we will have five minutes of opening remarks from each of our panelists today. we will start with ruel again to the good and go to brian and have q&a for myself as well as the audience and our panelists will be allowed to minutes at the end to restate their case and he essentially persuade you to believe what they believe. we will start now with ruel. ruel, you may begin. >> this is that such an angle. ruel, i'm confident you wi
mohammed al ariane has probably been more of a proponent of the new normal. i don't know whether that's a pimco idea, the firm that pimco came up with following the fiscal crisis -- not the fiscal -- financial crisis. if you still believe that, what if we never get to 6.5%. >> well, hi, joe. it's great to see you. you're exactly right. just a month ago chairman bernanke for the first time acknowledged that the u.s. has structurally lower economic growth. but we've been calling the new normal for the last few years. and you're exactly right. that means the fed, if you combine that with yesterday's announcement, that means the fed is going to be exceptionally easy for a long time, and that it could be a couple years or could be three, four years, maybe even longer, because unemployment is now structurally higher. we hope it's 6.5% is not the new naru, the new minimum unemployment. certainly it is increasing. the longer people stay unemployed the more structural it becomes. the fed is really in a box here. they're trying to engineer financial market outcomes. trying to raise the prices o
of government bonds in its effort to keep interest rates low. pimco c.e.o. mohamed el-erian will join us. >> susie: and the legal marijuana business-- two states okaying it for recreational use. we talk with one company profiting from medical marijuana products.
offered nothing concrete to diffuse the worst political crisis in nearly two years. >> mohamed morsi addressed the nation, trying to soften his position that has angered protesters over the last several days. in fact one of the sticking points that has been fueling these proce protests has been a decision that was issued by morsi. today he tried soften his position by saying that his decisions were in fact subject to judicial review, but he also wanted to try to solve then other positions that have been fueling some of the protests. he said the constitutional referendum scheduled for december 15th would go ahead as planned, but if it fails, there would be a new assembly. more importantly, he's now reaching across the political divide to meet with some of the country's political opposition figures. they say they will not necessarily meat with the president until that decision, at least that decree, is rescinded. they're still going ahead with calls for friday's million man march and outside the presidential palace, hundreds of protesters gathered for a third straight day following two
, almost looking at quarters. mohamed el-erian from pimco said he was worried about the third quarter reporting season because there was a finite about about what companies could do from the top and they had to focus on the top line. so in october, however, we saw a bit of a recovery from q3. and our flash figures were 2%, 2.5% in october. we have not told the market what we did in november, but it was better than october. and so we've ended up, you know, towards the end of november, after november, up by 3%, a little bit more than 3%, actually. >> yeah. >> and december, we have to wait and see. because we get another attack he of quarter-itis, so you have to be very careful. >> any lessons to be learned at all? is anything to go going to be next year than what it was? >> caution prevails. we have these gray swans, the unknown unknowns. we don't know what's going to happen. but the known unknowns are clearly the eurozone we're talking about, which will muddle through. china ma had soft landing. brics had a soft landing. the third area is in the middle east which you know a lot about,
instead of looking at calendar years almost seemed to be looking at quarters. mohamed el-erian said he was worried about the reporting season because there was a finite number of what companies could do in terms of cost. a number of companies missed the top line forecast, not so many the bottom line as the top line. so in october, however, we saw a little bit of a recovery from q3. and our flash figures were 2% and we did 2.5% in october. we have not told the market what we did in november, but it was better than october. and so we've ended up, you know, towards the end of november up by 3%, a little bit more than 3%, actually. and december, we have to wait and see. >> i've seen that you're continuing the plans in china and in particular from what i can tell. >> absolutely. >> are you going to try and diversify them further? >> well, if i do have any regrets -- and i've had a few over the years that i'm willing to admit publicly -- it would be that we didn't have enough of our operations in britain and that we didn't have enough in asia and latin america, africa and the middle east and
of that financing model. i think at some point next year it will probably break down. >>> president mohammed morsi has congratulated egyptians for a new constitution. in a tv address to the nation, mr. morsi said changes maybe necessary. the document is too islamist and has rejected the call for dialogue according to some. >>> a super winter storm that pounded the southeast and midwest is now pounding the northeast. the storm has created havoc on roads and at the airports and this as people start returning home after christmas. more than 1800 u.s. flights have been canceled since tuesday. makes the fact that a lot of usair line stocks were at 1 1/2 year highs yesterday. >>> a u.s. federal jury has found martel in patent violations. carnegie mellon sued marvell in 2009. the company is now hopeful the judge will reverse the verdict, but says lit plan to appeal. marvell shares were down 15% in frankfurt today. you can see investors are not sure they'll be able to appeal that one. shareholders could face high losses, but the so-called frob does not specify just how much the equity would be diluted. it
. >> as mohamed el-erian said, it's the new normal. nothing is going to happen next year in all probability. there will be the italian electrics. if berlusconi starts to poll better in a run up to the italian elections, which i think will happen, then you're likely to see bonds markets reacting a little bit to that. that could cause problems in the spanish and italian yield curve. so maybe that would that will trigger mariano rajoy asking for a bailout. anything which happens on the policy front, anything which happens in the next few months is going to be weighed for its impact on the election prospects come next september. >> you're lucky because we have a whole lot more europe after the break. we can continue to talk about all things european. but of all of this talk about the cliff, if it hasn't sent you over the edge yet, head on to our website and take the cliff quiz. see if you can match the right quiz with a number of things in. >> you can also take a look at what's on the agenda today in the u.s. a couple of economic reports wrap up the week. both due out at 10:00 a.m. eastern. the
, including a deadly confrontation here in cairo last night. supporters and opponents of president mohammed morsi battled for control of the streets around the presidential palace. they fought with sticks and stones. some people were carrying guns. other people threw molotov cocktails. egypt state tv says six people were killed. president morsi supporters camped out on the streets and opponents are planning more protest later today. we're just now hearing from the military's elite republican guard they are ordering all protesters off the streets near the pallets and the deadline is less than an hour from now. president morsi's opponents are angry about a new constitution due to be put to a referendum a vote, in less than ten days' time saying he is a dictator and under the new constitution, it represents his islam and fails to protect basic rights and freedoms. the president's supporter meanwhile, accuse the opposition of trying to derail egypt's democratic transition. president morsi says that he wants to negotiate, but is determined to push ahead with the referendum. and in the midst of t
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